Anguilla

Anguilla Economy

Economy - overview
Anguilla has few natural resources, and the economy depends heavily on luxury tourism, offshore banking, lobster fishing, and remittances from emigrants. Increased activity in the tourism industry, which has spurred the growth of the construction sector, has contributed to economic growth. Anguillan officials have put substantial effort into developing the offshore financial sector, which is small, but growing. In the medium term, prospects for the economy will depend largely on the tourism sector and, therefore, on revived income growth in the industrialized nations as well as on favorable weather conditions.

GDP
purchasing power parity - $104 million (2001 est.)

GDP - real growth rate
2.8% (2001 est.)

GDP - per capita
purchasing power parity - $8,600 (2001 est.)

GDP - composition by sector
agriculture: 4%
industry: 18%
services: 78% (1997 est.)

Population below poverty line
NA

Household income or consumption by percentage share
lowest 10%: NA
highest 10%: NA

Inflation rate
2.3%

Labor force
6,049 (2001)

Labor force - by occupation
agriculture/fishing/forestry/mining 4%, manufacturing 3%, construction 18%, transportation and utilities 10%, commerce 36%, services 29% (2000 est.)

Unemployment rate
6.7% (2001)

Budget
revenues: $22.8 million
expenditures: $22.5 million, including capital expenditures of NA (2000 est.)

Agriculture - products
small quantities of tobacco, vegetables; cattle raising

Industries
tourism, boat building, offshore financial services

Industrial production growth rate
3.1% (1997 est.)

Electricity - production
NA

Electricity - consumption
42.6 million kWh

Exports
$2.6 million (1999)

Exports - commodities
lobster, fish, livestock, salt, concrete blocks, rum

Exports - partners
UK, US, Puerto Rico, Saint-Martin (2000)

Imports
$80.9 million (1999)

Imports - commodities
fuels, foodstuffs, manufactures, chemicals, trucks, textiles

Imports - partners
US, Puerto Rico, UK (2000)

Debt - external
$8.8 million (1998)

Currency
East Caribbean dollar (XCD)

Currency code
XCD

Exchange rates
East Caribbean dollars per US dollar - 2.70 (fixed rate since 1976)



- Info Provided by the CIA World Factbook -